Software-driven mining startup Mariana Minerals completes $310 million Series B funding at a valuation of $1.5 billion, led by Khosla Ventures

According to Fortune, the software-driven mining startup Mariana Minerals has completed a $310 million Series B funding round, led by Khosla Ventures, with participation from Andreessen Horowitz (a16z), Breakthrough Energy Ventures, Greenoaks, BHP Ventures, and Mitsubishi Corporation. To date, the company has raised a total of $400 million, with a valuation of $1.5 billion.

Mariana was co-founded in 2024 by Turner Caldwell, a former member of the Tesla factory design and construction team, and is headquartered in San Francisco, aiming to reshape the traditional mining industry with software technology. The company currently operates two mines: Copper One in Utah (copper mine, targeting an annual refined copper production of 50,000 tons) and Lithium One in Texas (lithium mine, expected to commence commercial production in 2027).